JPMorgan Chase is a full-service financial institution that offers customers a range of products and services. At Chase, many of those products and services — including Chase checking accounts — come with fees attached. In most cases, however, you can avoid Chase checking account fees with certain qualifying activities, depending on the types of fees involved. Here’s what you need to know to avoid bank fees on your Chase checking account.
Chase Checking Account Fees
Chase offers three main types of personal checking accounts and three business checking accounts. Of the three main types of accounts, Chase Total Checking fees are the most inexpensive. The bank also offers a discounted student checking account. Its checking account fees fall into three main categories:
- Monthly maintenance fee
- Overdraft fee
- ATM fee
Chase also offers money orders; the Chase money order fee is $5, but this is waived for Chase Premier Plus Checking and Chase Premier Platinum Checking.
Checking account fees differ depending on the type of Chase checking account you open. Here’s a breakdown of the various Chase checking account fees and how to avoid them.
Checking Account Fees Comparison Chart: Best Banks for Free Checking Accounts
How to Avoid Chase’s Monthly Maintenance Fee
The Chase monthly service fee varies depending on the type of account, as follows:
- Chase Total Checking: $12
- Chase Premier Plus Checking: $25
- Chase Premier Platinum Checking: $25
- Chase Student Checking: $6
- Chase Total Business Checking: $15
- Chase Performance Business Checking: $30
- Chase Platinum Business Checking: $95
Chase Premier Platinum Checking requires a $100 minimum deposit to open. Other accounts only require $25 to open, including Chase Business checking accounts. Here’s how to avoid Chase monthly checking maintenance fees on all accounts:
1. Maintain a Minimum Balance
You can avoid paying a Chase checking account fee by maintaining a minimum required amount in your account. Here are the minimum balances you need in order to avoid Chase’s monthly fees:
- Chase Total Checking: $1,500 beginning balance every day or $5,000 average across all accounts
- Chase Premier Plus Checking: $15,000 average daily balance across all accounts
- Chase Premier Platinum Checking: $75,000 average daily balance across all accounts
- Chase Business Checking: $1,500 minimum daily balance
- Chase Performance Business Checking: $35,000 average daily balance across all business accounts
- Chase Platinum Business Checking: $100,000 average daily balance across all business accounts
You must maintain the daily minimum balance to avoid the fee. If your account drops below the threshold levels, your bank statement will show you were charged that month.
2. Sign Up for Qualifying Direct Deposits
Another way to avoid paying fees on your checking account at Chase is to meet the minimum requirement for direct deposits. The following two Chase accounts allow you to be exempt from the monthly account fee if you use direct deposits:
- Chase Total Checking: $500 per statement cycle
- Chase Student Checking: Any direct deposit
Note that this option is not available for the other Chase checking accounts.
3. Link a Chase Account
A third way to avoid checking account fees at Chase Bank is to link your account to another Chase account. The Premier Plus and Total Business checking accounts offer this option:
- Chase Premier Plus Checking: Link a Chase first mortgage enrolled in automatic payments.
- Chase Total Business Checking: Link a Private Client Checking or Premier Platinum Checking account.
How to Avoid Chase Bank Overdraft Fees
To avoid an overdraft fee at Chase, the best thing to do is to make sure you don’t overdraw your account in the first place. If you do, Chase charges a $34 fee. Chase will charge you as many as three overdraft fees in a single day if your account is overdrawn by at least $5. You can avoid the overdraft fee by signing up for overdraft protection, and the bank will cover your overdrawn checking account with money from your savings account, typically for no fee.
How to Avoid Chase ATM Fees
Chase charges $2.50 if you use a non-Chase ATM in the United States. Overseas, that fee jumps up to $5 per withdrawal. You might also face charges imposed by the ATM operator. Whether in the U.S. or abroad, you can avoid Chase fees by using a Chase ATM.
ATM Fees: How Much Does My Bank Charge?
Chase checking accounts come with a range of different fees, including ATM, overdraft, and monthly maintenance fees. However, these fees are easy to avoid most of the time. Read up on the types of checking accounts Chase offers to find out which one provides you the most appropriate service. You can check out Chase Bank online or at your local branch.
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